I would like to sublet my leasehold apartment in King's Cross. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A lease governs relations between the landlord and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in King's Cross do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I only have Seventy years left on my flat in King's Cross. I need to extend my lease but my freeholder is can not be found. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the landlord. For most situations a specialist should be helpful to try and locate and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing King's Cross.

I am tempted by the attractive purchase price for a two apartments in King's Cross both have about 50 years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in King's Cross is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and lenders, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with King's Cross conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you offer any advice when it comes to choosing a King's Cross conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a King's Cross conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non King's Cross conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How familiar is the firm with lease extension legislation?

Can you provide any top tips for leasehold conveyancing in King's Cross from the perspective of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in King's Cross can be avoided where you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
• If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example installed wooden flooring? King's Cross leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord approving such changes. Where you dont have the consents in place do not communicate with the landlord without contacting your lawyer in advance.

After years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in King's Cross. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Absolutely. We can put you in touch with a King's Cross conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a King's Cross residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired term was 66.8 years.

Other Topics

Lease Extensions in King's Cross